Mizuho Issues Positive Forecast for CNX Resources (NYSE:CNX) Stock Price

CNX Resources (NYSE:CNX) had its target price hoisted by analysts at Mizuho from $34.00 to $35.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the oil and gas producer’s stock. Mizuho’s price target would indicate a potential upside of 19.45% from the stock’s current price.

CNX has been the topic of a number of other reports. Piper Sandler decreased their price objective on CNX Resources from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered CNX Resources from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Raymond James upgraded shares of CNX Resources from an “underperform” rating to a “market perform” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price objective on CNX Resources from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, March 13th. Finally, TD Cowen initiated coverage on CNX Resources in a report on Wednesday, January 15th. They set a “hold” rating and a $27.00 target price on the stock. Nine analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, CNX Resources currently has an average rating of “Reduce” and an average target price of $30.92.

CNX Resources Price Performance

Shares of CNX Resources stock traded up $0.10 during trading on Monday, reaching $29.30. The company’s stock had a trading volume of 1,267,283 shares, compared to its average volume of 2,655,416. The stock has a 50-day moving average price of $30.03 and a two-hundred day moving average price of $33.41. The stock has a market capitalization of $4.31 billion, a P/E ratio of -42.64, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.45. CNX Resources has a one year low of $22.82 and a one year high of $41.93.

CNX Resources (NYSE:CNX) last announced its earnings results on Thursday, January 30th. The oil and gas producer reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. CNX Resources had a negative net margin of 7.14% and a positive return on equity of 6.72%. As a group, sell-side analysts anticipate that CNX Resources will post 2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On CNX Resources

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in CNX Resources by 131.5% in the fourth quarter. Bessemer Group Inc. now owns 926 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 526 shares in the last quarter. Xponance Inc. grew its stake in shares of CNX Resources by 2.9% in the fourth quarter. Xponance Inc. now owns 20,876 shares of the oil and gas producer’s stock valued at $766,000 after buying an additional 588 shares in the last quarter. Principal Securities Inc. increased its holdings in CNX Resources by 38.5% during the fourth quarter. Principal Securities Inc. now owns 2,484 shares of the oil and gas producer’s stock worth $91,000 after buying an additional 691 shares during the last quarter. SeaBridge Investment Advisors LLC raised its position in CNX Resources by 0.8% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 90,301 shares of the oil and gas producer’s stock worth $3,311,000 after acquiring an additional 759 shares in the last quarter. Finally, Pullen Investment Management LLC lifted its stake in CNX Resources by 2.7% in the fourth quarter. Pullen Investment Management LLC now owns 32,151 shares of the oil and gas producer’s stock valued at $1,179,000 after acquiring an additional 841 shares during the last quarter. Institutional investors own 95.16% of the company’s stock.

About CNX Resources

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.